Innoscience's stock price plummeted 5.06% during intraday trading on Friday, extending losses from the regular session.

The sharp decline follows the recent completion of the conversion of approximately 374 million domestic unlisted shares into H-shares, which commenced trading recently. Market concerns have intensified over potential gradual selling pressure from early private equity shareholders, who hold positions with significant unrealized gains from a cost basis around HKD 22. Further weighing on sentiment is the upcoming unlock of approximately 12.59 million cornerstone shares held by STMicroelectronics on June 29.

The selling pressure on Innoscience was compounded by broad-based weakness across the semiconductor sector, with several major peers also registering significant declines during the session.